While most of the mass beauty industry is trying to forget the fourth quarter of 2007 and the first quarter of 2008, the professional industry is on a roll. Warren-Tricomi is about to shell out approximately $1 million a year on rent at The Plaza for a new salon there. Frédéric Fekkai is still charging $750 for a haircut. And Sally Beauty just reported double-digit earnings increases for their second quarter. Perhaps the Lipstick Index should be replaced with a Price and Frequency Haircut Cycle, which may be a more precise way to gauge the economy.